MIXX by Yas has entered into a strategic partnership with UBX and the Savings and Credit Cooperative Union of Tanzania (SCCULT), becoming the exclusive digital payments partner for SACCO members across the country.

Through this collaboration, SACCO members will now be able to save and repay loans easily and securely using Mixx by Yas, regardless of their mobile network provider. This digital solution aims to improve access to financial services, especially for Tanzanians living in underserved and remote areas.

Speaking at the signing ceremony, Dr. Khadija Kishimba, a representative from the Bank of Tanzania standing in for Kennedy Komba, Director of Financial Deepening and Financial Inclusion at the Bank of Tanzania (BoT), said:

"This is a welcome step towards building an inclusive financial system for all Tanzanians. SACCOs play a crucial role in reaching communities that face challenges accessing formal financial services. The partnership between Mixx by Yas, UBX, and SCCULT is a prime example of how the private sector can support the national financial inclusion agenda."

Mixx by Yas Chief Executive Officer, Angelica Pesha, stated that the partnership aims to advance financial inclusion for SACCO members through mobile technology. The platform will allow members to save, repay loans, and access other financial services without the need to visit physical offices or fill out paperwork.

"At Mixx, we believe that every Tanzanian - wherever they are - should be able to access financial services in a simple, secure, and modern way. This partnership is a transformational step, especially considering that less than 5% of SACCOs currently use mobile technology to deliver services," she said.

According to the 2023 FinScope Report, only 2 percent of Tanzanians currently use SACCO services, despite SACCOs' significant role in supporting both urban and rural communities. This partnership between Mixx, UBX, and SCCULT aims to change that reality by enabling SACCO members to conveniently access services via their mobile phones.

Seronga Wangwe, CEO of UBX, added: "With this new system, SACCOs will be able to disburse loans instantly while ensuring transparency and data accuracy. This is a crucial step in building trust between SACCOs and their members."

Adding his perspective, Hassan Mnyone, Managing Director of SCCULT, noted:

"This partnership is a milestone for SACCOs across Tanzania, as it leverages technology to empower our members with convenient, secure, and efficient financial services. We are committed to supporting innovations that strengthen the cooperative movement and improve the livelihoods of our communities."